Definition of “business trust”
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A business trust is a business enterprise structured as a trust. A business trust (“BT”) is a business enterprise structured as a trust....
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- MAS
- Consultations
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- This consultation paper sets out proposed amendments to the Payment Services Regulations 2019, to implement key segregation and custody requirements for digital payment token services. Consultation Paper VIEW DOCUMENT Consultation Paper on Proposed Amendments to the Payment Services Regulations (560.2 KB) Consultation Paper P007 July 2023 Consultation Paper on Proposed Amendments to the Payment Services Regulations -------- 3 July 2023 | 2 Contents 1. Preface
- MAS
- Circulars
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- :dl"'J" 8 October 2012 To: All Trustee-Managers of: Attn : Authorised Representatives Dear Sirs (i) Registered Business Trusts Listed on the SGX-Mainboard ; and (ii) Recognised Business Trusts with a Primary Listing on the SGX Mainboard DISCLOSURE OF INTERESTS
- Disclosure requirements for trustee -managers in respect of its own interest in securities of a business trust Section 137R(1 )(a) of the SFA requires a trustee-manager of a business trust 2 to announce or disseminate the particulars of its acquisition or disposal of (any)
- interests in units or derivatives of units in, or debentures or units of debentures of, the business trust (hereafter referred to as "securities").
- MAS
- Circulars
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- The common areas include ongoing monitoring of business relations with trust relevant parties and the frequency of AML/CFT training. We would like to remind LTCs to formalise all their AML/CFT practices and apply their P&Ps consistently.
- LTCs are required to monitor their business relations with trust relevant parties on an ongoing basis. Paragraph 6-9 of the revised Guidelines provide guidance on the measures and frequency for ongoing monitoring.
- CMI 07/2015 28 October 2015 Dear Sirs MEASURES To: Holders of a Trust Business Licence under the Trust Companies Act (Cap. 336) ENHANCING ANTI-MONEY LAUNDERING & COUNTERING THE FINANCING OF TERRORISM In 2014, the Monetary Authority of Singapore (MAS) appointed external auditors under
- MAS
- Regulations
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- S 492 BUSINESS TRUSTS ACT (CHAPTER 31A) BUSINESS TRUSTS (AMENDMENT) REGULATIONS 2018 In exercise of the powers conferred by section 114 of the Business Trusts Act, the Monetary Authority of Singapore makes the following Regulations: Citation and commencement 1.
- Sets out the requirements relating to, amongst others, the responsibilities of a trustee-manager as well as the registration, management and administration of a registered business trust. 13 Aug 2018 Business Trusts (Amendment) Regulations 2018 (170.3 KB) 1 S 492/2018 First published in the
- These Regulations are the Business Trusts (Amendment) Regulations 2018 and come into operation on 14 August 2018. Amendment of regulation 24 2.
- MAS
- Consultations
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- ) are permitted to make such distributions to unitholders, subject to a certification by the board of directors of the trustee-manager (TM) that the TM will be able to pay, from the trust property of the BT, the liabilities of the BT as they fall due .
- Investment vehicles that are not able to comply with the restrictions should consider adopting other structures, such as business trusts or corporations.
- The suggested drafting is consistent with that in the Business Trusts Act. The trustee should be satisfied that the interests of the REIT and its unitholders are protected.
- MAS
- Guidelines
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- To raise the balance amount required, he therefore decides to set up a business trust, Business Trust Y. Person A intends to appoint Corporation X as both the trustee and the manager of the business trust (i.e.
- Corporation X will act as the trustee for the unitholders of Business Trust Y as well as manage the business held by Business Trust Y on behalf of the unitholders).
- Trust B B issues units to Corporations X, Y and Z A business trust, B, is engaged in the provision of PCB testing and finishing services.
- MAS
- Guidelines
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- Guidelines for banks dealing in securities issued by the Singapore Government, as a primary, registered or secondary dealer. These guidelines apply to any bank dealing in Government securities as a primary, registered or secondary dealer. The guidelines cover: Definitions of 'Government securities', 'dealers', etc. Business conduct rules and market practices which dealers should comply with. Prohibitions on unsecured credit given to employees and their family for the purchase or subscription of Government
- MAS
- Guidelines
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- The employees of Business Trust Y, accordingly, started making cold calls by knocking on the doors of companies and apartments to invite investments in Business Trust Y.
- Sample Case (2) Person B wanted to raise funds by offering units in Business Trust Y using the small offers exemption. Given that he had few friends and business associates who were familiar with the business of Business Trust Y, he decided to get his employees to make cold calls.
- Even if the cold call is made mainly for the purposes of gathering indications of interest in exempted units of derivatives of units in a business trust in general and units of derivatives of units in a business trust are offered during the meeting, persons may still be in
- MAS
- Media Releases
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- Singapore, 8 December 2020… The Monetary Authority of Singapore (MAS) and the Bank of Ghana (BOG) have commenced discussions to adopt the Business sans Borders (BSB) open hub of platforms between Singapore and Ghana. These discussions on close cooperation will benefit the small and medium-sized enterprises (SMEs) and micro-SMEs (MSMEs) SMEs and micro-SMEs (MSMEs) play a critical role in the economies of Singapore and Ghana, composing over 90% of all businesses and driving substantial employment and
- MAS
- Consultations
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- or business trust.
- a common control entity, common control business or common control business trust); or (ii) entered into any agreement to acquire or dispose of any asset or any entity, business or business trust (whether or not that entity, business or business trust is a common control entity, common control
- businesses or business trusts which have audited financial statements), other than the entities, businesses or business trusts referred to in sub-paragraph (g), for the financial year in -------- 70 (i) (j) respect of which pro forma financial statements have been